Vancouver-based Xebra is expected to receive cannabis authorisations from The Mexican Health Regulatory Agency (FDA) immanently.
The Mexican Health Regulatory Agency has been directed by the court authorities to grant Xebra‘s wholly owned Mexican subsidiary, Desart MX, SA de CV, all applicable cannabis authorisations, pursuant to the irrevocable injunction granted by the Supreme Court in December 2021.
Xebra Mexico’s injunction applies specifically to cannabis with low-levels of THC. This will enable the company to cultivate and process hemp.
Read more: Xebra moves closer to receiving authorisations to grow hemp in Mexico
Additionally, Xebra will be able to manufacture and sell CBD products such as tinctures, oils, topicals, edibles, beverages, concentrates, distillates, emulsions and biomass etc., as well as certain uses of the cannabis flower.
CEO of Xebra, Jay Garnett, commented: “Xebra is only days away to being the outright first mover in the Mexican CBD market.
“Mexico has the potential to be one of the largest CBD consumer markets in the world, and for the foreseeable future, only Xebra will have the legal authorisations to fully commercialise that demand vertically from field to manufacturing and sales.”
The company fully expects the authorisations to be granted no later than October.
Xebra has been expanding its international presence with developments in 2022 that have seen the company begin the cultivation of cannabis in Holland following its pre-trial period as part of the country’s medical cannabis cultivation trial.
The company is one of five that has been selected to participate in the trial, and is aiming to receive one of two licences, with a contract that will last up to six years to co-supply all pharma-grade cannabis to be sold in the Netherlands.
The final two license holders from the trial will be selected based on the quality of three trial crops, and will then go on to cultivate and process cannabis in the Netherlands and sell to the Dutch Government.
Earlier this year Xebra also saw its funding round oversubscribed by 50 per cent. The private placement raised gross proceeds of C$1.8m which the company has stated that it intends to use the proceeds for general working capital purposes.
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